May 12, 2011 (Jeff Alan) Freddie Mac has released its Economic and Housing Market Outlook report for May predicting a pick-up in economic growth in the second half of 2011 with unemployment lingering above 8 percent through the rest of the year. Freddie notes on the sunny side, that homebuyer affordability remains extraordinarily high due [...]
May 11, 2011 (Chris Moore) The Mortgage Bankers Association (MBA) today released its Weekly Mortgage Applications Survey for the week ending May 6, 2011. The Market Composite Index, a measure of mortgage loan application volume, increased 8.2 percent on a seasonally adjusted basis from last week as both purchase applications and refinance applications increased on [...]
May 11, 2011 (Chris Moore) After a fast start, the Home Affordable Modification Program (HAMP) has settled into the role as the tortoise in the race to the loan modification finish line. According to the Obama Administrations April Housing Scorecard, 35,432 loans were modified in March under HAMP bringing the total number of permanent loan [...]
May 11, 2011 (Shirley Allen) The Department of Housing and Urban Development (HUD) has announced they will speed disaster relief assistance to areas of Kentucky, Iowa, Missouri, and Tennessee, providing support to homeowners and low-income renters who have been forced from their homes following the severe storms, tornadoes, and straight-line winds last month. Read more...
May 11, 2011 (Chris Moore) The spring selling season seems to have finally begun as existing home sales increased by 8.3% in the first quarter of 2011 according to the National Association of Realtors (NAR). Sales gains were experienced in 49 states and the District of Columbia, while median home prices of existing single-family homes [...]
May 11, 2011 (Jeff Alan) CoreLogic reports that year-over-year home prices have dropped for the 8th consecutive month according to data released in its March Home Price Index (HPI). National home prices, including distressed home sales, declined by 7.5 percent in March compared to March 2010, which follows a 5.8* percent decline in February. Read [...]
May 9, 2011 (Jeff Alan) Wells Fargo is holding another Home Preservation Workshop in St. Louis on May 11 and 12, 2011. The event is being held at the Renaissance St. Louis Airport Hotel and will be open from 9:00 a.m. until 7:00 p.m. each day. Today is the last day to register!!! Read more...
May 9, 2011 (Brian Moore) Home prices double dipped in April 2011 as home prices dropped nationally 0.7 percent below the prior lows experienced in March 2009 according to the latest Home Data Index (HDI) Market Report released by housing data firm Clear Capital. Read more...
May 9, 2011 (Chris Moore) Earnings for the two government owned mortgage companies, Freddie Mac and Fannie Mae, went in completely opposite directions in the first quarter of 2011 as Freddie Mac reported $676 million in net income and Fannie Mae lost $8.7 billion which triggered a request for $8.5 billion in additional financial aid. [...]
